OlsAro, a Gothenburg-based agtech startup, has secured €2.5M in funding to advance its AI-enabled crop-breeding platform aimed at developing climate-resilient wheat varieties. The investment round was led by Future Food Fund and PINC, the venture arm of Paulig, with participation from AgFunder, Flora Ventures, and Mudcake.
Previously supported by entities like GU Ventures, Vasa Angels, and Öste Ventures, OlsAro is enhancing food security by creating wheat varieties that can thrive under adverse conditions such as salt, heat, and drought.
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Advancing Global Food Security
OlsAro’s mission is critical as climate change increasingly impacts global agriculture, salting croplands and exacerbating food shortages, particularly in regions like Asia, the Middle East, South America, and Africa. The company’s engineered wheat is designed to prosper on saline land that typically lies fallow, especially during dry seasons. Initial tests in Bangladesh have shown a 52 percent increase in wheat yields, potentially allowing farmers to introduce an additional cropping season.
Leveraging AI for Sustainable Agriculture
Co-founded by Henrik Aronsson and Olof Olsson, OlsAro utilizes big data and AI to transform how crops are developed. The platform speeds up the breeding of new wheat varieties capable of growing in saline conditions, which could expand arable land and increase agricultural productivity. This technology is set to be adapted for a broader range of crops, offering solutions to the pressing issues of shrinking arable land and a growing global population.
OlsAro’s technology has proven to develop new crop varieties three times faster than traditional methods. The company’s extensive research over the past decade and its diverse proprietary collection of wheat are instrumental in identifying traits that can withstand harsh climates, improve nitrogen efficiency, and enhance nutritional content.
Strategic Impact and Expansion
With the latest funding, CEO Elén Faxö stated, “This investment allows us to accelerate our technological and commercial initiatives significantly. We are proud of the strong consortium of investors who believe in our vision, and their support will be pivotal as we expand into new markets.”
OlsAro is already making significant strides, with a commercial contract in Bangladesh and ongoing field trials in Pakistan, Kenya, Oman, and Nepal. The company plans to expand its innovative agricultural solutions to Australia and India, targeting regions severely affected by salinity degradation.
This funding round not only underscores OlsAro’s innovative approach to addressing critical global challenges but also strengthens its position as a leader in the development of sustainable agricultural technologies.
